City Office REIT, Inc. (NYSE:CIO) Receives $14.80 Consensus Target Price from Brokerages

Shares of City Office REIT, Inc. (NYSE:CIO) have received a consensus rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $14.83.

Several brokerages recently weighed in on CIO. ValuEngine downgraded shares of City Office REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub upgraded shares of City Office REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of City Office REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Deutsche Bank AG boosted their price target on shares of City Office REIT from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, FBR & Co began coverage on shares of City Office REIT in a research report on Tuesday, July 11th. They set an “outperform” rating and a $14.50 price target on the stock.

City Office REIT (CIO) opened at 12.44 on Monday. The stock’s market capitalization is $376.46 million. The company’s 50-day moving average is $12.60 and its 200 day moving average is $12.51. City Office REIT has a 12-month low of $11.43 and a 12-month high of $13.55.

City Office REIT (NYSE:CIO) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The firm had revenue of $25.16 million for the quarter, compared to the consensus estimate of $26.18 million. City Office REIT had a net margin of 3.70% and a return on equity of 1.91%. During the same period last year, the firm posted $0.22 EPS. On average, analysts predict that City Office REIT will post ($0.31) EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th were given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 7.56%. The ex-dividend date was Friday, July 7th. City Office REIT’s dividend payout ratio (DPR) is currently -723.08%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its position in City Office REIT by 63.2% in the first quarter. Nuveen Asset Management LLC now owns 1,364,636 shares of the real estate investment trust’s stock valued at $16,580,000 after buying an additional 528,290 shares during the period. LSV Asset Management increased its position in shares of City Office REIT by 65.0% in the first quarter. LSV Asset Management now owns 670,665 shares of the real estate investment trust’s stock worth $8,148,000 after buying an additional 264,263 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in shares of City Office REIT during the first quarter worth approximately $3,038,000. Principal Financial Group Inc. increased its position in shares of City Office REIT by 28.6% in the first quarter. Principal Financial Group Inc. now owns 987,936 shares of the real estate investment trust’s stock worth $12,003,000 after buying an additional 220,000 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. increased its position in shares of City Office REIT by 1,559.8% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 223,455 shares of the real estate investment trust’s stock worth $2,838,000 after buying an additional 209,992 shares during the last quarter. 53.35% of the stock is currently owned by institutional investors and hedge funds.

About City Office REIT

City Office REIT, Inc is a real estate investment trust. The Company is focused on acquiring, owning and operating office properties located primarily in metropolitan areas in the Southern and Western United States. It conducts its operations primarily through City Office REIT Operating Partnership, L.P.

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